Location: Chambersburg, PA | Metro: Chambersburg, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $930 |
| 1 Bedroom | $1,080 |
| 2 Bedrooms | $1,330 |
| 3 Bedrooms | $1,780 |
| 4 Bedrooms | $1,910 |
| 5 Bedrooms | $2,216 |
| 6 Bedrooms | $2,482 |
| 7 Bedrooms | $2,681 |
| 8 Bedrooms | $2,815 |
U.S. Census Bureau data (2024)
The analysis of ZIP 17220 reveals a mixed market scenario, neither a high-yield/low-stability flip-style market nor a purely steady-cashflow zone. The Federal Market Rent (FMR) for ZIP 17220 in fiscal year 2024 is set at $1,150, which stands as the benchmark for potential rental income. This figure contrasts sharply with the median home value of $252,126, indicating a relatively balanced housing market where property values are not excessively inflated compared to rental yields.
Regarding stability, the data shows that only 7.6% of residents are renters, suggesting a predominantly owner-occupied community. This characteristic can be seen as a positive indicator for long-term stability since there is less turnover compared to markets with higher percentages of renters. However, the lack of specific data on days-on-market (DOM) and the average income of $66,359 provide an incomplete picture of the economic health and demand for rental properties in this area.
The rental market in ZIP 17220 appears to favor 3+ bedroom units, typically priced between $200 and $299 per month, including utilities. This pricing structure indicates a lower-end rental market, possibly catering to families or individuals seeking affordable housing. Given the FMR of $1,150, landlords might find it challenging to achieve high rental yields without offering incentives or amenities that justify the higher price point.
In conclusion, ZIP 17220 leans towards a steady-cashflow zone due to its low percentage of renters and the presence of a moderately priced housing market. However, the absence of detailed market data and the lower-end rental prices suggest that achieving high yields will require careful management and possibly strategic investments in property improvements to attract tenants willing to pay closer to the FMR. Landlords and small-portfolio investors should focus on maintaining properties to ensure they remain attractive to the target demographic while keeping costs in check to maximize profitability.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.